Azeri Light crude advances to $119.26 per barrel on global markets

The price of Azerbaijan's benchmark crude, Azeri Light (CIF), trended upward on international commodity markets, gaining $1.04 or 0.88% to settle at $119.26 per barrel. The grade had traded at $118.22 per barrel during the previous session.

Current market prices continue to trade substantially above the conservative $65-per-barrel baseline projected in Azerbaijan’s state budget for the current fiscal year.

N.Tebrizli